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| 1. |  | The relevant Purchaser in respect of each Aircraft represents and warrants to the
relevant Seller in respect of such Aircraft that the following statements are now and on the
relevant Delivery Date will be, true and accurate: |
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| 1.1 |  | such Purchaser duly exists under the laws of the State of Delaware and has the power
to enter into and implement the transactions contemplated by the Transaction Documents
relating to such Aircraft to which it is a party; |
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| 1.2 |  | the execution, delivery and performance of the Transaction Documents relating to such
Aircraft to which it is a party have been duly authorised by all necessary corporate action on
the part of such Purchaser; |
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| 1.3 |  | the Transaction Documents relating to such Aircraft to which it is a party constitute
legal, valid and binding obligations of such Purchaser; |
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| 1.4 |  | each consent required by such Purchaser to authorise, or required by it in connection
with the execution, delivery, performance, legality, validity or enforceability of the
Transaction Documents relating to such Aircraft to which it is a party has been obtained and
is in full force and effect (or will be obtained and in full force and effect prior to
Delivery in respect of such Aircraft), and there is no default in the observance or
performance of any of the conditions and restrictions (if any) imposed on or in connection
therewith; and |
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| 1.5 |  | the execution, delivery and performance by such Purchaser of the Transaction
Documents relating to such Aircraft to which it is a party will not (i) conflict with, or